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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Hawkmoon who wrote (8331)10/1/2007 12:48:08 AM
From: John Pitera  Read Replies (2) of 33421
 
Hawk, So Glad you posted. I feel USD/HKD is on launch pad and the HDK is going to appreciate big time, considering it was pegged. I expect to see the USD/HKD rate going down to 6.75 in the next few months which is a very big deal considering that the "floating" peg at 7.75 has been in place for years.

(remeber that the reference currency is the one on the left and that the HKD or the JPY appreciate when the rate goes down in price, as it's quoted in US Dollars.

The opposite is true when the GBP or the AUD or NZD etc is the reference currency. Then when you seen the GBP/USD or the AUD/USD price go up it means that the British Pound and the Australian Dollar are going up relative to the US Dollar.

Part of the reason for the discrepencies in the USD being the reference currency contrasted with say Pound Sterling or the AUD is partly due to legacy aspects in quoting FX and partly to make it more confusing to the occasional user of the FX market.

John

I suspect the best direct way for in
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